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The interesting corollary would be that in the run-up to a recession, all other assets and opportunities are so over-valued that capital has nowhere else to go.
by ethbro 8y ago
The interesting corollary would be that in the run-up to a recession, all other assets and opportunities are so over-valued that capital has nowhere else to go.
And that increasing wages for labor is in fact capital's least-preferred option.
Which would be sad, but more or less jive with how the modern global, publicly traded economy works.
- eli_gottlieb 8y agoWell, that sounds pretty accurate: today's economies are so thoroughly dominated by the interests of monopoly capital that it takes a long-running bubble/overheat to actually raise wages.
- harryh 8y agotoday's economies are so thoroughly dominated by the interests of monopoly capital How do you measure this?